Jenners,Princes St

Interim Results

Jenners,Princes Street,Edinburgh Ld
03 October 2002



Group turnover in the first half increased by 2% on last year, with both Princes
Street and Edinburgh Airport improving on last year's performance.

Operating profits have been reduced by the start up costs for our new store at
Loch Lomond Shores, which opened on 19th September 2002, although overall
expenses have been controlled within budget. The reduction in interest revenue
reflects a continued period of low interest rates and a reduction in funds on
deposit due to the financing of the above.

The results for the full year will depend on the important trading period before
Christmas. Clear signs of consumer expenditure slowing down and increased
competition in the city centre makes the outlook more unpredictable than usual.

An interim dividend on the Ordinary Shares of 82p per share has been declared
and will be payable on 4th November to members on the register at 31st October

By order of the Board
E Barclay, Secretary                                        3rd October 2002

                                       CONTACT - ELIZABETH BARCLAY 0131 260 2324

                                                 INTERIM GROUP RESULTS
                                          FOR THE HALF YEAR TO 28TH JULY 2002


                                  Half Year to                    Half Year to                        Year to
                                  28 July 2002                    29 July 2001                27 January 2002
                                          £000                            £000                           £000

Turnover (excluding VAT)                19,987                          19,597                         46,830

Operating Profit                           674                             742                          3,030

Interest (net)                             228                             327                            573

Profit before Taxation                     902                           1,069                          3,603

Taxation (note 2)                          271                             321                          1,320

Profit after Taxation                      631                             748                          2,283
attributed to members


Preference Shares                           71                              71                            142

Ordinary Shares                            689       (82p)                 689         (82p)            1,327    (158p)

                                           760                             760                          1,469

Earnings per Ordinary Share               66.7p                           80.6p                         254.9p
(note 3)


1.         The information disclosed above does not constitute statutory accounts. The accounts for the year
           to 27th January 2002, on which the auditors made an unqualified report, have been lodged with the
           Registrar of Companies.

2.         Corporation tax is based on the profit for the half year to 28th July 2002 at 30 per cent (2001 -
           30 per cent).

3.         Earnings per Ordinary Share is based on profit after preference dividend and on 840,000 Ordinary
           Shares in issue.

4.         This information will be sent to shareholders and will be available to members of the public at
           the Company's registered office, 48 Princes Street, Edinburgh, EH2 2YJ.

3rd October 2002

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